LS Investment Advisors LLC Purchases 63 Shares of Elevance Health, Inc. (NYSE:ELV)

by · The Markets Daily

LS Investment Advisors LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 5,837 shares of the company’s stock after acquiring an additional 63 shares during the period. LS Investment Advisors LLC’s holdings in Elevance Health were worth $3,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank & Trust Co bought a new position in shares of Elevance Health in the 2nd quarter worth $27,000. PSI Advisors LLC bought a new position in shares of Elevance Health during the 3rd quarter valued at $27,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health during the 2nd quarter valued at $28,000. Strategic Financial Concepts LLC purchased a new stake in Elevance Health during the 2nd quarter valued at $30,000. Finally, Eastern Bank purchased a new stake in Elevance Health during the 3rd quarter valued at $31,000. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several analyst reports. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Truist Financial reissued a “buy” rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald dropped their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, Bank of America reissued a “neutral” rating and set a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Read Our Latest Report on Elevance Health

Elevance Health Stock Up 0.1 %

NYSE:ELV opened at $429.22 on Friday. The firm has a market cap of $99.54 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.24 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The firm has a 50-day simple moving average of $494.37 and a two-hundred day simple moving average of $519.32.

Elevance Health (NYSE:ELV – Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.99 earnings per share. Analysts predict that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.52%. Elevance Health’s dividend payout ratio is presently 23.77%.

Elevance Health Profile

(Free Report)

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.

Further Reading

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV – Free Report).